Accounting

NZ accounting minnow Xero pushes into Australia

Julianne Dowling Backed by MYOB founder Craig Winkler, New Zealand accounting software provider Xero is launching in Australia against his old company.

BUSINESS MAXIMS

A question of profits

Tax.

Business Maxims Operating a business through a company can be a great idea when starting out. But the tax benefit can be outweighed when profits have built up.

Mining boom blamed for rise in business failures

Mining

Courtney Trenwith The mining boom is being blamed for much of the dramatic rise in the number of failed WA businesses forced into external administration.

Don't buy the wrong wheels

Work car.

Max Newnham Many small business owners stumble in buying and financing the right sort of work vehicle.

START-UP TIPS

10 things to consider before ditching your day job

Ditching your day job.

David Wilson Dreaming of throwing in the towel and going it alone? Make sure you've thought of everything.

61 jobs go as Fletcher Jones tailors for buyer

bruno

Henrietta Cook Menswear chain to shed staff and close a third of its stores immediately.

WORKING FROM HOME

Tax tactics: what to claim when you work from home

Working from home tax tactics.

Business Maxims Q. I run a plumbing business from home. What can I claim?

Super savings total $1.5b over four years

Super.

Federal government to reduce what it gives to low and middle-income earners through super co-contribution from mid-2012.

ASIC alert: running on empty

ASIC

Henrietta Cook Almost one in two companies that spiralled into administration last financial year were suspected of insolvent trading, report says.

Big rise in business failure rate

Immigration cuts have contributed to the decline in retail sales.

Clancy Yeates The number of corporate insolvencies has surged to its highest level in more than a decade.

How to write off business costs

Writing off business purposes.

Business Maxims Q. We recently set up an office - can we claim painting and other costs?

FINANCE

Keeping your lenders in the loop

Having a good relationship with your bank could save you.

Tony Kaye Having a better relationship with your bank could save you if push comes to shove. Here's how to do it.

Pass rate cuts on to SMEs: retail body

Don't forget SMEs, urges retail body.

Larissa Ham A peak retail body has urged banks to pass on yesterday's interest rate cut to small and medium-sized enterprises.

Victorian workers win back $7.5 million

More than 3000 Victorians have received backpay.

More than 3500 Victorians were repaid $7.5 million after Fair Work Australia investigations found they had been underpaid.

FINANCE

Write, which way should I pay my tax?

Keyboard.

Business Maxims Q. I am a UK citizen, and am doing a spot of freelance writing. Should I be taxing myself through my ABN number?

Setting up for success

Janna Fikh.

Get the basics right when establishing a home office and your enterprise stands a better chance of being efficient and profitable, writes Dan Warne.

Claiming company expenses

Car.

Business Maxims Can I claim my $6000 car purchase as a company expense in my BAS?

Can't pay the ATO? Don't do a runner

Don't keep the ATO in the dark.

Max Newnham Often the first financial commitments that cash-strapped businesses ignore are payments due to the tax office.

Business calls for Henry reform progress

Heather.

Business groups have called for the federal government's tax forum to be based on the Henry review recommendations rather than start from scratch.

We owe ourselves salaries

Max

Business Maxims Q. Can we claim our salaries - which we don't have the money for - as a tax deduction?